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Thursday, September 17, 2009

The Alt Count

This chart above is my now my preferred count even though it's labeled Alt Count.

I noticed a small error on the chart I posted immediately after the close. I switched where I had placed the a/b and the w/x. No big deal but I did not like looking at the error.

The Alt Count is looking more and more like it may work out.

Below is the EUR/USD. We have broken below the Andrews Pitchfork and if it does not return from the fringe it may very well start a down trend in both the EUR/USD and equities.

The tenkan-sen Kijun-sen have a bearish cross and threaten to slip into the M60 Kumo. If this happens it will be a bearish indication that would most likely follow through to the SPX.

It's about seven hours since the market closed and the /ES is four points lower.

Analysis presented on this Blog has only informational, and educational purpose, and does not represent a proposal for buying or selling currency contracts.

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